|March 30, 2017|
Graphene 3D Lab Concludes Research & Development Project with Fortune 500 Manufacturer
|March 30, 2017 -- Calverton, NY -- (TSXV: GGG, OTCQB: GPHBF) Graphene 3D Lab Inc. (Graphene 3D" or the "Company") announces that it has concluded the Confidential Research and Development Agreement (the "Agreement") with its partner, a Fortune 500 Manufacturer (the "Partner"). The Agreement and the general terms of the arrangement were initially announced on December 1, 2015.|
Despite Graphene 3D executing and completing all the deliverables specified in the Agreement, Graphene 3D and its Partner have mutually decided to conclude the Agreement on March 29, 2017. This was largely due to the fact that the Partner's development objectives were adjusted to focus on areas that wouldn't benefit from the expertise of the Company.
As per the Agreement, the Partner will compensate Graphene 3D for all direct & indirect research & development costs incurred by the Company relating to the project. The payment is set to be received within the next 30 days.
Graphene 3D considers establishing such joint R&D/product development partnerships as a key driver for the future growth of the Company and will continue to seek similar rewarding opportunities. Such alliances help in building long-lasting fruitful relationships with industry leaders, while covering many ongoing costs, and if successful can also generate significant revenue for the Company. The expertise developed by the Company's research team while working on these types of projects continues to help fuel the Company's technological growth.
About Graphene 3D Lab Inc.
Graphene 3D Lab, Inc. is a world leader in the development, manufacturing, and marketing of proprietary composites and coatings based on graphene and other advanced materials. These diverse materials have a wide spectrum of commercial, research, and military applications. The Company's wholly owned subsidiary, Graphene Laboratories Inc., currently offers over 100 graphene and related products to a client list comprised of more than 12,000 customers worldwide, including nearly every Fortune 500 tech company and major research university. Some notable clients are: NASA, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, IBM and Stanford University. The Company's suite of products is available online at the company's e-commerce platform Graphene Supermarket (www.graphene-supermarket.com).
The 3D printing division of the Company offers a portfolio of 3D printable filaments. These materials can be purchased through multiple distribution networks worldwide or directly from the webstore www.blackmagic3D.com.
The Graphene 3D facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has eight US patent applications pending for its technology. For more information on Graphene 3D Lab Inc., visit www.graphene3dlab.com
ON BEHALF OF THE BOARD
Daniel Stolyarov, President & Co-CEO
For More Information:
Co-Chief Executive Officer
Telephone: (631) 405-5113
Investor Relations Coordinator
Telephone (631) 405-5114
FORWARD LOOKING INFORMATION
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
You can return to the main News page, or press the Back button on your browser.